Summary about cost of living in Lagos, Nigeria: Family of four estimated monthly costs are 1,906$ (781,431₦) without rent. A single person estimated monthly costs are 522$ (214,048₦) without rent. Lagos is 63.99% less expensive than New York (without rent).
Is $100 a lot of money in Nigeria?
Largely depends on who you ask. $100 is around 36,000 Naira which is twice our current official minimum monthly wage. To someone who earns minimum wage, which unfortunately is the bulk of the Nigerian populace, it is a lot of money.
What is a good salary in Lagos?
A person working in Lagos typically earns around 351,000 NGN per month. Salaries range from 88,800 NGN (lowest average) to 1,570,000 NGN (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.
How much do you need to live comfortably in Nigeria?
If you’re traveling to Nigeria, around 500$ should cover your basic monthly expenses (food, social life, a bit of shopping and other expenses) even with the recession that is in effect right now.
How expensive is it to live in Nigeria?
Summary: Family of four estimated monthly costs are 1,541$ (635,889₦) without rent. A single person estimated monthly costs are 427$ (175,962₦) without rent. Cost of living in Nigeria is, on average, 59.16% lower than in United States.
How much money is rich in Nigeria?
According to Forbes the 5 richest Nigerians are: Aliko Dangote (net worth US $14.4 billion), Mike Adenuga (net worth US $9.9 billion), Femi Otedola (net worth US$1.85 billion), Folorunsho Alakija (net worth US$1.55 billion), Abdul Samad Rabiu (net worth $1.1 billion).
How much is $1 US in Nigeria?
Are you overpaying your bank?
|Conversion rates US Dollar / Nigerian Naira|
|1 USD||388.00000 NGN|
|5 USD||1940.00000 NGN|
|10 USD||3880.00000 NGN|
|20 USD||7760.00000 NGN|
Which job is the highest paid in Nigeria?
Top 25 Highest Paying Jobs in Nigeria Ranked:
- Project Manager – N321,000.
- Petroleum Engineer – N294,000.
- Sailor – N263,000.
- Pilot – N210,000.
- Investment Bankers- N194,000.
- Dentist- N193,000.
- Software Developer- N153,000.
- Accountant – N126,000.
Is Lagos rich or poor?
As the result of urbanisation the gap between rich and poor in Lagos has widened. For some, the booming economy of Lagos has led to great wealth. Yet, over 60% of the population of Lagos live in squatter settlements (slums), such as Makoko. Many of the houses of Makoko are built on stilts above Lagos Lagoon.
What is considered a high salary in Nigeria?
A person working in Nigeria typically earns around 339,000 NGN per month. Salaries range from 85,700 NGN (lowest average) to 1,510,000 NGN (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.
Is 50 dollars a lot in Nigeria?
To answer your question, $50 is worth just about NGN17,750 (using $1 = NGN355). Where NGN represents Nigerian Naira. You can only do grocery shopping with that amount of money and if you’re a spender, that may not last you more than a day.
Where is the cheapest place to live in Nigeria?
Cheapest Nigerian Cities to Live In
- Ikot Ekpene by Ikpa road.
- Enitona Hotel in GRA, Aba North, Aba.
- Ikom Bridge.
- Ilorin Roundabout.
- Faculty of Medicine, Obafemi Awolowo University, Ile-Ife,
- Road leading to Zaria.
Is 500 a lot of money in Nigeria?
$500 is a handful of money, you could engage in a start-up and it sure would take you a long way. Although depending on ones location, There are people who open a beauty bar and generate mild income.
Why is there no McDonald’s in Nigeria?
The biggest obstacle blocking McDonald’s from Nigeria is a lack of adequate supply chains. Geographically, Nigeria lies too far from South Africa, Egypt or Morocco to simply expand existing supply chains. … To give a better perspective, there are 393 McDonald’s outlets in Mexico alone.
Does it ever get cold in Nigeria?
In the north, winter is warm and dry; it can get uncomfortably hot during the day, up to 40 °C (104 °F), but it’s usually cool at night, and it can even get cold in the northern hilly areas, where cold records are around freezing (0 °C or 32 °F).
How much is a Big Mac in Nigeria?
The price of Combo meal in fast food restaurant (Big Mac Meal or similar) in Lagos is 2,849 ₦